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what is the current unemployment rate for the Cim's current education level if it drops out? if there are few jobs in that range, it might be better to stay in school.
how much is the education service budgeted? if it is over 100%, this might increase retention.
what wealth level is their current residence? wealthier Cims should probably reach college more.
how far from their residence is the nearest criminal? crime rates should increase dropout rates, and this should be local, not global.
For example, in a developed country, the drop out rate for elementary school is practically 0%, perhaps 1% at most, due to strict enforcement of daytime curfews (i.e. children cannot be in public during school hours without an adult), child labor laws preventing child employment, and it being illegal for a child not to be in school. The bigger problem in a developed country is high school dropouts, and college dropouts.
Less developed countries tend to have higher drop out rates, often because of poverty and children having to work to support the family, among other reasons.
So somehow having the numbers reflect that would be nice.
1. Police presence affects elementary school dropout rates (reasoning: police enforce laws requiring children to be in school).
2. Local criminal activity affects high school drop out rates.
3. Distance to schools affect drop out rate (farther away = more likely to drop out).
4. Available public transportation options reduces dropout rates.
5. Education of parents affects education of child (i.e. highly educated parents are more likely to encourage their children to go to college).
It would tie the drop out rates to game play, which could would make the game a bit more realistic.